A solid, diversified financial plan for retirement is one of the keys to happiness and comfort later in life. Don't wait to start planning for your retirement… it isn't too soon or too late! Carter Federal offers IRAs to fit your particular financial profile or needs.

Traditional IRAs
Some contributions are tax deductible depending on adjusted gross income and filing status. Contributions accumulate tax-free until you withdraw the money from the account.

Roth IRAs
Contributions are not tax deductible and are taxed in the year they are earned, but a Roth IRA allows tax-free withdrawals for certain distribution reasons after a five-year holding period. Individuals who expect to be in a much higher income bracket when they retire may benefit from a Roth IRA.

Education Savings Accounts
Tax-advantaged accounts are an attractive means to save money for the future. An Individual Retirement Account (IRA), for instance, allows investors to save money for retirement. The Education Savings Account is designed for another important long-term savings goal -- paying for a child’s education expenses.

Benefits of an Education Savings Account

•Important tax advantages. Investments in an Education Savings Account can grow tax-free.

•Flexibility with contributions. You control where investments are directed. It’s perfect for relatives, grandparents, or anyone who wishes to give the gift of education.

•Controlled by an adult*. A parent or guardian maintains control over the account until the beneficiary (child) reaches age 30.

This account earns interest regardless of balance, and has no minimum deposit, no monthly fee,
free debit card, free Internet Account Access, free Bill Pay*, and free eStatements*.
* The account is registered in a child’s name with a parent or legal guardian named as the account’s responsible individual. The responsible individual controls the Account until all assets are withdrawn or the student attains the age of majority under state law.